On Monday, Rangers' stock was suspended from trading after Rangers failed to submit audited finances. The move is part of a broader discussion about whether or not Rangers should be a public company. Rangers chairman Craig Whyte told the club's official site: "Given the structure of the shareholding in the Club, there is very little, if any, tangible benefit for the Club to be a listed company."
"The fact that the club has a majority shareholder controlling more than 80% means there is very little trading in shares," he said. "In reality, a public listing means more bureaucracy. Rangers does not need to remain a listed company in order for people to buy and sell their individual shares and since becoming chairman I have always questioned what is really being achieved with a public listing. Whether or not we are a listed company, accounts will still be published and there will still be a shareholders' AGM. All shareholders would be able to hold the directors to account."
